Crescent Point to acquire Legacy for shares, debt worth C$1.53 bln

Reuters Staff

1 Min Read

CALGARY, Alberta, May 26 (Reuters) - Crescent Point Energy Inc, Canada's No.4 independent oil and gas producer, said on Tuesday it has agreed to acquire Legacy Oil + Gas Inc for shares and debt worth C$1.53 billion ($1.23 billion), adding oil production in its core regions in Western Canada and North Dakota.

Crescent Point is offering 0.095 of its own shares for each Legacy share. Based on Crescent Point's closing price on Monday of C$30.00, the offer is worth C$2.85 per Legacy share. (Reporting by Scott Haggett; Editing by Richard Chang)